Top 5 Cobalt Mining Companies in the world

During the COVID-19 epidemic, cobalt prices have continuously risen, mainly because of the growing demand for lithium-ion batteries in electronic products and electric vehicles. Investors who want to wager on the rising use of battery technology and renewable energy may consider investing in cobalt stocks. Therefore, it becomes essential to read more about cobalt mining companies 2020. Thus, cobalt was produced in mines worldwide in 2021 in the amount of 170,000 metric tons. The Democratic Republic of Congo produced a projected 120,000 metric tons of cobalt in 2021, making it the top producing nation in the world.

Cobalt Mining companies

Only the Earth’s crust contains the hard, shiny metal cobalt. Swedish scientist Georg Brandt made the initial discovery of it in 1735. In order to prevent surface oxidation, cobalt is utilized in electroplating. Further, creating alloys is another use for it. In its simplest form, it results from the mining of silver, nickel, copper, lead, and iron. Due to the blue tint it provides, cobalt compounds have also been used to color porcelain, pottery, glass, and tile.  Here is the list of the top 5 Cobalt Mining Companies in the world.

Cobalt Mining In The DRC

The most profitable and crucial sector of the Democratic Republic of the Congo’s economy is the mining sector. Their primary source of export revenue is from it. The DRC was by far the biggest cobalt mining company in the world in 2021, producing more than two-thirds of all cobalt globally. The DRC still experiences poverty and corruption despite having the world’s most extensive cobalt and other mineral reserves. Since 2010, the amount of cobalt produced by DRC mines has increased.

However, knowing about one country is insufficient to comprehend top cobalt mining companies. Therefore, we will cover the following topics to understand cobalt producers.

  • Top Cobalt Mining Companies
  • Cobalt Mining Companies Stock
  • Largest Cobalt-Producing Countries

Top Cobalt Mining Companies

In this blog segment, we will familiarize you with the top cobalt mining companies in a bit detail. 

Glencore PLC | LSE:GLEN | Market Cap: $52.45B

The largest cobalt mining business in the world, Glencore, produced 27,400 tonnes overall in 2017 and intended to boost output to 63,000 tonnes by 2020. Thus, it paved its way to becoming the biggest cobalt mining company. Glencore committed $960 million in 2017 to boost its shares in 2 mining businesses in the DRC (Democratic Republic of the Congo) in order to expand its cobalt and copper presence (DRC).

Further, Switzerland-based Another international mining company is Glencore. Its mining, energy, and recycling resources include the ability to produce base metals like nickel, copper, and obviously cobalt. Further, Glencore is not traded on a U.S. stock exchange, which investors should note in the country. Thus, it is another cobalt mining company’s stock. As an ADR, shares can be bought over the counter (representing a foreign company’s stock). The ownership of shares of an ADR carries some risks. Additionally, during the previous ten years, Glencore has not produced the same high-profit margins as competitors like BHP and Vale.

China Molybdenum | HKEX:3993 | Market Cap: $34.06B

Nine thousand three hundred fourteen tonnes of cobalt were produced in 2016 by China Molybdenum, a company the Chinese government owns. The business invested in the Tenke Fungurume mine in the DRC’s troubled country for $2.65 billion in 2017. According to dealers, most of the mine’s output is consumed by China. In addition, the largest market for electric vehicles worldwide is China. Furthermore, it is also the largest consumer of cobalt, while China’s Molybdenum is one of the top cobalt mining companies.

China Molybdenum is not a publicly traded company on a U.S. stock exchange, like several other multinational mining firms. Before selecting to buy from the OTC market, exercise caution. Funds like the Amplify Lithium & Battery Technology ETF contain China Molybdenum as a position in its portfolio as an alternative to purchasing the stock. Therefore, it became one of the biggest cobalt mining companies

Fleurette Group | Private

Seven thousand five hundred ninety-five tonnes of cobalt were produced by Fleurette overall in 2016. In 2017, Glencore acquired Fleurette’s shares in the DRC’s Mutanda Mining and Katanga Mining, two companies that produce cobalt. The Fleurette Group of Companies has large operations and investments across a range of industries, including the Democratic Republic of the Congo. Thus, we can say that it is not one of the public cobalt mining companies.

Vale | NYSE:VALE | Market Cap: $65.82B

In 2017, Vale produced 5,811 tonnes of cobalt. The corporation produces cobalt in a number of mines as a byproduct in various mines in Canada. It principally produces nickel, but also cobalt, copper, silver, platinum-group metals (PGMs), and gold are made in Canada. However, a chemical leak, technical difficulties, and violent local protests prevented Vale from selling its interest in a nickel/ cobalt mine in New Caledonia. Still, it came under the list of top cobalt mining companies.

Vale is a nickel and copper miner as well as a secondary cobalt supplier. Despite not contributing much to Vale’s bottom line, the company is still noteworthy given its position as the biggest cobalt mining company of essential metals utilized in a variety of sectors.

Similar to BHP Group, Vale gains from its enormous size. The operating profit margins are consistently among the highest in the mining sector.

Gecamines | State-controlled

Gecamines, a cobalt mining corporation under the administration of the Democratic Republic of the Congo, generated 4,167 tonnes of cobalt in 2016. This depicts that it is not one of the public cobalt mining companies. With organizations like Glencore, US-based Freeport-McMoRan, and Canada’s Ivanhoe Mines having controlling stakes and managing the projects, the corporation has minority interests in a number of significant DRC mines. In contrast, it became one of the biggest cobalt mining companies. 

These were the five top cobalt mining companies, but there is some more efficient cobalt mining companies stock in which you can consider investing. 

You might be interested in

Other Cobalt Mining Companies Stock

BHP Group

BHP Group, established in Australia and one of the biggest mining firms in the world, has activities all over the world. The business mines energy, base materials, and metals. BHP naturally mines cobalt because it is one of the leftovers of processing copper and nickel, two of its essential products.

BHP and AI computing start-up KoBold Metals, which employs algorithms to decide land purchases and exploration, entered into a partnership agreement in 2021. Thus, making it one of the top cobalt mining companies stock. The arrangement is made to make it easier for BHP to access metals like cobalt and nickel, which are needed to make the batteries for electric vehicles and other renewable energy projects.

Although the mining sector experiences cyclical growth, BHP Group consistently achieves positive operating profit margins that typically reach double-digit percentages. Hence, it became the best cobalt mining companies 2020.


Another large mining and energy firm with its headquarters in Arizona is Freeport-McMoRan. One of the noteworthy producers of copper, which is vital to the entire world economy, is Freeport-McMoRan. Further, cobalt is a resource that the corporation mines with copper. A deal to sell a portion of Freeport-cobalt McMoRan’s venture for $200 million was concluded in 2019. And consequently fell under the list of top cobalt mining companies 2020. Freeport-McMoRan has historically produced relatively high operating earnings from its mining holdings, similar to certain other major international mining corporations.

Wheaton Precious Metals

Wheaton Precious Metals is an investment in precious metals like gold and silver, as its name would imply. It is not a mining corporation, though. As a “streaming” company of commodities, Wheaton enters into a contract with a mining company to buy all or a portion of the miner’s output at a pre-set discounted price. In addition to precious metals, Wheaton also buys a lot of cobalt. Thus, it became an essential and efficient cobalt mining company stock. 

Wheaton has an influential position in the global mining industry while not directly involved in producing essential commodities like cobalt. For investors searching for a dividend, it is also highly profitable and pays one. 

Cobalt Blue Holdings

This final business is a penny stock, a popular listing style in the mining sector. Cobalt Blue Holdings currently does not make a sizable profit. This company engages in exploration and project development, with the Broken Hill Cobalt project as its current top priority.

Australian state of New South Wales project. If the project is successfully developed, the business thinks that the commercialization of the cobalt produced at the site would enable it to reach the top of the list of raw material producers for the battery sector.

Contrary to popular belief, this stock is not offered as a recommendation. Cobalt Blue is a precarious investment because it is a development company and a penny stock, and its success depends on it starting up its mining activities. Therefore, if you dare to invest in this cobalt mining company’s stock, do it at your own risk. Be careful when investing in companies like this. In any case, it is worth keeping an eye on Cobalt Blue as a potential leader in cobalt production if the mine begins operating.

Further, in the last section of the article, we will make you near and dear with the names of the top cobalt-producing countries. 

An Overview Of The World’s Eight Largest Cobalt Producers By Country 

  1. Democratic Republic of Congo (DRC) – 100,000 tonnes
  2. Russia – 6,100 tonnes
  3. Australia – 5,100 tonnes
  4. Philippines – 4,600 tonnes
  5. Cuba – 3,500 tonnes
  6. Madagascar – 3,300 tonnes
  7. Papua New Guinea – 3,100 tonnes
  8. Canada – 3,000 tonnes

Leave a Reply

Your email address will not be published. Required fields are marked *